Rising Mood in Incheon Old Downtown Real Estate Market, Special Sale of 'Hakik Doosan We’ve' in Michuhol-gu Underway

Despite the real estate market slowing down due to reduced economic activity caused by COVID-19 and the impact of the general elections, the Incheon real estate market continues to show steady growth, capturing the industry's attention.

According to the weekly KB Housing Market Trends report released by KB Real Estate Liiv ON on April 13, while the price increase rate in Seoul's Gangnam 3 districts declined for four consecutive weeks and nationwide purchase inquiries recorded 57.4, indicating a sluggish market, Incheon's Yeonsu-gu, Michuhol-gu, and Namdong-gu maintained an upward trend.

In particular, Michuhol-gu, the old downtown area of Incheon, has recently emerged as a hot topic due to ongoing large-scale development projects and its status as an undervalued area. Last year, apartments sold in this area during the first and second halves of the year recorded fierce subscription competition, achieving remarkable sales results.

Looking at the weekly apartment price trends from the Korea Real Estate Board, apartment sale prices in Incheon have consistently risen. This can be interpreted as a balloon effect caused by increased government regulations, with Michuhol-gu benefiting as it is relatively free from such restrictions.

As a result, apartments supplied within the region are attracting significant attention. Currently, in Michuhol-gu, Incheon, Doosan Construction is conducting a limited special price sale of 'Michuhol-gu Incheon Hakik Doosan We’ve,' which is receiving favorable reviews.

Located at 43 Nojeoksan-ro, Michuhol-gu, Incheon, Michuhol-gu Incheon Hakik Doosan We’ve consists of 432 units across 2 basement floors to 34 above-ground floors, with exclusive areas ranging from 23.75 to 88.53㎡, as well as 108.526㎡, 110.159㎡, 152.064㎡, and 177.771㎡, offering a variety of types to broaden consumer choices.

Since the special price sale began, inquiries from those wishing to reside have significantly increased, according to model house officials. Given the current high threshold for home ownership, this special price sale is seen as an excellent opportunity to secure a home and invest in real estate at a reasonable cost.

Michuhol-gu Incheon Hakik Doosan We’ve applies specialized designs based on Doosan Construction’s accumulated expertise in the housing market. Most units are planned to face south to maximize sunlight and natural lighting, and the landscaping area ratio reaches 41.75%, providing a pleasant living environment.

Additionally, a central water purification system is installed to supply clean, purified water to each unit. A home network system is also in place, allowing remote control of gas, living room lighting, and heating.

Meanwhile, new apartment sales in non-regulated old downtown areas have a resale restriction period of only six months, whereas areas designated as speculative overheating districts prohibit housing transactions until ownership registration after completion. Resale rights in non-regulated areas are not subject to capital gains tax surcharges for multiple homeowners. Anyone residing in the metropolitan area can apply for first-priority subscription, and even those who already own a home or are not household heads can apply. Therefore, both actual users and investors continue to show steady interest in redevelopment zones in Incheon’s old downtown.

A representative from the Michuhol-gu Incheon Hakik Doosan We’ve model house stated, “Since the special price sale began, the model house has been bustling daily, and we expect to announce a closing soon.”

This content was produced with the assistance of AI translation services.